Mangudya Allots US$30.4 Million At Forex Auction

Reserve Bank Of Zimbabwe Governor Dr John Panonetsa Mangudya allotted
In total, US$30.4 million this week, at yesterday’s foreign currency auction with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.

Governor Mangudya revealed that, “920 bids were received on the Small to Medium enterprises forex auction, with 869 accepted and 51 disqualified. The total number of bids allotted was 869.”

Dr Mangudya said, “On the main forex auction, a total of 428 bids were received, 392 were accepted and 36 were disqualified. The total number of bids allotted was 392.”

The RBZ Governor added that, “Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.”

Some bids were also allotted on a pro-rata basis.

FOREIGN EXCHANGE AUCTION RESULTS 26 APRIL 2022 SMEFX85/2022 MAIN FX91/2022
Number of Bids Received : 920 428
Number of Bids Disqualified : 51 36
Total Number of Bids Accepted : 869 392
Total Number of Bids Allotted : 869 392
Total Value of Bids Accepted : USD4,522,761.60 USD25,936,487.43
Amount Allotted : USD4,522,761.60 USD25,936,487.43
Highest Rate Received : 180.0000 180.00000
Lowest Bid Rate Allotted : 145.0000 148.0000
Weighted Average Rate : 159.3482
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,219,251.74 12,957,459.57
Machinery and Equipment 1,527,835.83 5,419,206.84
Consumables (Incl. Spares, Tyres, Electricals, etc) 534,565.97 1,867,234.18
Services (Loans, Education, Dividends, Disinvestments, etc) 478,934.09 1,322,872.33
Retail and Distribution (Incl. Food, Beverages, etc) 416,713.86 2,151,740.28
Electricity 9,847.44 100,000.00
Pharmaceuticals and Chemicals 193,164.92 1,262,149.08
Paper and Packaging 142,447.75 855,825.15
TOTAL 4,522,761.60 25,936,487.43
GRAND TOTAL AWARDED 30,459,249.03